TFC Financial Management, Inc.

Registered adviser

CIK

1827844

Location

BOSTON, MA

Portfolio Value

Small $825,556,799

Diversification

Highly concentrated

Filing Date

Global Rank

#2,690 / 8,827 ▲ 82 · as of Jun 2026

Top Industry

Consumer Electronics 12.3%

Period ended 38 days ago

Filed Oct 26, 2026 · 12d

25 quarters · since Sep 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 105062

Roster of Nov 1, 2026

Regulatory AUM

$1,780,827,449

Main clients

Individuals and high net worth (99% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$1,780,827,449	Individuals and high net worth (99%)
Mar 2025 to Mar 2026	$1,537,539,892	Individuals and high net worth (99%)
Mar 2024 to Feb 2025	$1,375,857,896	Individuals and high net worth (99%)
May 2023 to Feb 2024	$1,226,534,766	Individuals and high net worth (99%)
Apr 2023	$1,226,534,766	Individuals and high net worth (99%)
Apr 2022 to Mar 2023	$1,394,087,469	Individuals and high net worth (99%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Concentrated

The top 10 positions are 86.8% of the book (60%+)

Turnover

Low turnover

6.3% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 20.1 quarters (12+)

Closest benchmark: every 13F filer's combined book, active share 80.4%; sector active share 72.8% against the combined 13F book's sector weights.

Over time 24 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

1,045 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

59.0%

−0.7 pts

Top 5

81.6%

+1.2 pts

Top 10

88.2%

+1.4 pts

HHI

3,649

Highly concentrated−64

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	86.3%	$712,743,384	148
Technology	4.9%	$40,347,995	156
Financial Services	2.4%	$19,819,091	147
Healthcare	1.9%	$15,866,045	132
Consumer Cyclical	0.9%	$7,581,054	90
Industrials	0.9%	$7,543,997	135
Consumer Defensive	0.8%	$7,003,213	43
Communication Services	0.8%	$6,790,038	34
Energy	0.5%	$4,328,386	41
Basic Materials	0.2%	$1,776,942	40
Real Estate	0.1%	$889,666	43
Utilities	0.1%	$866,988	36

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
SHY	iShares 1-3 Year Treasury Bond ETF	+126,162	1,152,563	$93,588,115
JQUA	JPMorgan U.S. Quality Factor ETF	+4,977	769,150	$56,763,270
AFL	Aflac Inc	+3,881	4,081	$456,174
VV	VANGUARD LARGE-CAP INDEX FUND	+3,385	56,692	$19,947,080
VTWG	VANGUARD RUSSELL 2000 GROWTH INDEX FUND	+3,339	90,479	$23,577,017
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	+1,841	83,642	$4,349,384
APH	Amphenol Corp	+1,641	2,898	$244,301
—		+1,216	133,748	$0
CVMC	Calvert US Mid-Cap Core Responsible Index ETF	+1,106	62,254	$4,544,230
BSV	VANGUARD SHORT-TERM BOND INDEX FUND	+949	86,565	$6,613,566
UL	Unilever PLC	+870	2,064	$125,346
FCX	Freeport-Mcmoran Inc	+826	960	$67,200
RKLB	Rocket Lab Corp	+745	807	$56,231
NEM	NEWMONT Corp	+725	828	$95,501
NUEM	Nuveen ESG Emerging Markets Equity ETF	+644	293,122	$12,484,065
BX	Blackstone Inc.	+543	739	$82,834
RAL	Ralliant Corp	+500	501	$34,654
NXT	Nextpower Inc.	+490	1,193	$92,970
HPE	Hewlett Packard Enterprise Co	+472	1,478	$94,429
SXT	Sensient Technologies Corp	+405	438	$57,255
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	+398	43,736	$3,068,080
CMCSA	Comcast Corp	+368	812	$17,669
AMAT	Applied Materials Inc	+360	1,507	$770,649
XYL	Xylem Inc.	+360	1,433	$145,119
CRM	Salesforce, Inc.	+336	1,174	$269,515
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
MRK	Merck & Co., Inc.	−32,545	6,185	$898,742
JNJ	Johnson & Johnson	−24,804	24,134	$6,389,235
XOM	ExxonMobil Holdings Corp	−23,262	18,348	$2,986,137
IDEV	iShares Core MSCI International Developed Markets ETF	−16,631	1,361,174	$121,797,849
IEMG	iShares Trust	−8,222	726,622	$0
DFUV	Dimensional U.S. Marketwide Value ETF	−7,003	898,750	$49,431,250
IBM	International Business Machines Corp	−5,899	4,260	$936,901
MMM	3M Co	−5,868	1,138	$186,802
LHX	L3harris Technologies, Inc.	−5,800	312	$73,875
IVV	iShares Core S&P 500 ETF	−5,711	319,490	$244,681,416
ONB	Old National Bancorp	−5,600	89,800	$2,212,672
GE	General Electric Co	−5,435	1,878	$586,480
GEHC	GE HealthCare Technologies Inc.	−1,897	274	$17,911
SOLV	Solventum Corp	−1,467	228	$20,098
FFIN	First Financial Bankshares Inc	−1,343	9,798	$310,988
GEV	GE Vernova Inc.	−1,263	447	$424,869
UBER	Uber Technologies, Inc	−1,247	189	$12,948
IJH	iShares Core S&P Mid-Cap ETF	−1,107	9,980	$718,061
CI	Cigna Group	−968	396	$107,644
DFAT	Dimensional U.S. Targeted Value ETF	−945	410,547	$27,276,742
ATR	Aptargroup, Inc.	−668	577	$69,909
TMUS	T-Mobile US, Inc.	−644	408	$66,536
ENB	Enbridge Inc	−612	1,446	$67,224
REPL	Replimune Group, Inc.	−564	2,127	$28,161
TX	Ternium S.A.	−534	555	$30,136
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
CHWY	Chewy, Inc.	3,518	$64,027
BWXT	BWX Technologies, Inc.	464	$63,568
SKHY	SK hynix Inc.	257	$47,326
ASND	Ascendis Pharma A/S	179	$40,781
CCJ	Cameco Corp	336	$29,121
RRX	Regal Rexnord Corp	159	$24,662
MP	MP Materials Corp.	512	$24,212
BAM	Brookfield Asset Management Ltd.	330	$14,711
BG	Bunge Global SA	137	$14,652
VGT	VANGUARD INFORMATION TECHNOLOGY INDEX FUND	107	$13,446
MBGL	Mobility Global Inc.	700	$12,005
SMH	VanEck Semiconductor ETF	15	$9,135
BHVN	Biohaven Ltd.	614	$8,196
VFH	VANGUARD FINANCIALS INDEX FUND	40	$5,203
FLY	Firefly Aerospace Inc.	212	$4,907
XLC	State Street(R) Communication Services Select Sector SPDR(R) ETF	42	$4,660
XLY	State Street(R) Consumer Discretionary Select Sector SPDR(R) ETF	40	$4,353
FAC	Factorial Energy Inc.	600	$3,804
PAAS	Pan American Silver Corp	83	$3,777
XLV	State Street(R) Health Care Select Sector SPDR(R) ETF	17	$2,863
GRAB	Grab Holdings Ltd	720	$2,239
XLI	State Street(R) Industrial Select Sector SPDR(R) ETF	13	$2,170
BLLN	BillionToOne, Inc.	20	$2,128
XLE	State Street(R) Energy Select Sector SPDR(R) ETF	28	$1,722
PAVE	Global X U.S. Infrastructure Development ETF	23	$1,207
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
GPC	Genuine Parts Co	3,920	$462,481
Q	Qnity Electronics, Inc.	1,697	$277,137
ALC	Alcon Inc	1,240	$83,204
EUAD	Spinnaker ETF Series	1,060	$44,710
CHDN	Churchill Downs Inc	414	$37,110
SMR	NUSCALE POWER Corp	3,627	$36,378
CRSP	CRISPR Therapeutics AG	620	$33,814
FMDE	Fidelity Enhanced Mid Cap Core ETF	435	$17,652
FSLR	First Solar, Inc.	51	$12,033
EOSE	Eos Energy Enterprises, Inc.	1,126	$6,620
—		25	$5,126
GUTS	Fractyl Health, Inc.	5,000	$3,969
RBRK	Rubrik, Inc.	25	$2,007
—		32	$1,340
GERN	Geron Corp	1,000	$1,280
HUM	Humana Inc	2	$794
—		4	$754
—		14	$727
FISV	Fiserv Inc	14	$686
PODD	Insulet Corp	4	$609
FND	Floor & Decor Holdings, Inc.	10	$593
LII	Lennox International Inc	1	$572
FN	Fabrinet	1	$562
CPRI	Capri Holdings Ltd	30	$557
WING	Wingstop Inc.	3	$520
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

1,045 tracked positions · $825,556,799 total · filing declares 1,047 positions · $892,720,218 · as of Sep 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 1,045 positions by value · page 1 of 21

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
IVV	iShares Core S&P 500 ETF	Reduced	319,490	-5,711	$244,681,416	+0.5%	29.64%
IDEV	iShares Core MSCI International Developed Markets ETF	Reduced	1,361,174	-16,631	$121,797,849	−0.7%	14.75%
SHY	iShares 1-3 Year Treasury Bond ETF	Added	1,152,563	+126,162	$93,588,115	+11.0%	11.34%
JQUA	JPMorgan U.S. Quality Factor ETF	Added	769,150	+4,977	$56,763,270	+2.8%	6.88%
DFUV	Dimensional U.S. Marketwide Value ETF	Reduced	898,750	-7,003	$49,431,250	−0.8%	5.99%
DFAT	Dimensional U.S. Targeted Value ETF	Reduced	410,547	-945	$27,276,742	−5.2%	3.30%
VTWG	VANGUARD RUSSELL 2000 GROWTH INDEX FUND	Added	90,479	+3,339	$23,577,017	−5.9%	2.86%
VV	VANGUARD LARGE-CAP INDEX FUND	Added	56,692	+3,385	$19,947,080	+8.8%	2.42%
AAPL	Apple Inc. Technology	Reduced	41,552	-345	$13,837,647	+14.1%	1.68%
NUEM	Nuveen ESG Emerging Markets Equity ETF	Added	293,122	+644	$12,484,065	+0.6%	1.51%
MSFT	Microsoft Corp Technology	Added	15,817	+114	$8,112,539	+38.5%	0.98%
BSV	VANGUARD SHORT-TERM BOND INDEX FUND	Added	86,565	+949	$6,613,566	−0.9%	0.80%
JNJ	Johnson & Johnson Healthcare	Reduced	24,134	-24,804	$6,389,235	−48.6%	0.77%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	11,634	-115	$5,793,150	−1.5%	0.70%
NVDA	Nvidia Corp Technology	Added	23,984	+25	$5,477,465	+14.3%	0.66%
CVMC	Calvert US Mid-Cap Core Responsible Index ETF	Added	62,254	+1,106	$4,544,230	−2.4%	0.55%
ITOT	iShares Core S&P Total U.S. Stock Market ETF	Reduced	26,387	-290	$4,387,630	+0.1%	0.53%
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	Added	83,642	+1,841	$4,349,384	−4.9%	0.53%
GOOGL	Alphabet Inc. Communication Services	Added	9,437	+220	$3,247,082	−1.4%	0.39%
IWB	iShares Russell 1000 ETF	Held	7,765	0	$3,231,249	+1.6%	0.39%
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	Added	43,736	+398	$3,068,080	−3.6%	0.37%
BRK-A	Berkshire Hathaway Inc Financial Services	Held	4	0	$2,988,020	−0.2%	0.36%
XOM	ExxonMobil Holdings Corp Energy	Reduced	18,348	-23,262	$2,986,137	−47.5%	0.36%
HTFL	Heartflow, Inc. Healthcare	Held	55,598	0	$2,766,000	+69.6%	0.34%
QUAL	iShares MSCI USA Quality Factor ETF	Added	11,881	+12	$2,640,433	+1.4%	0.32%
SPY	Spdr S&P 500 ETF Trust	Added	3,359	+2	$2,561,674	+2.2%	0.31%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Added	6,665	+38	$2,494,309	+1.7%	0.30%
AMZN	Amazon Com Inc Consumer Cyclical	Added	9,827	+239	$2,448,397	+7.1%	0.30%
JPM	Jpmorgan Chase & Co Financial Services	Added	7,274	+76	$2,406,457	+2.1%	0.29%
ONB	Old National Bancorp Financial Services	Reduced	89,800	-5,600	$2,212,672	−10.4%	0.27%
VOO	VANGUARD 500 INDEX FUND	Added	3,147	+64	$2,205,606	+4.2%	0.27%
ACN	Accenture plc Technology	Added	12,012	+96	$2,202,640	+48.5%	0.27%
IJR	iShares Core S&P Small-Cap ETF	Held	13,512	0	$1,838,172	−8.3%	0.22%
IEFA	iShares Core MSCI EAFE ETF	Reduced	17,927	-165	$1,736,767	−0.6%	0.21%
EFA	iShares MSCI EAFE ETF	Reduced	16,494	-200	$1,713,561	−1.2%	0.21%
GOOG	Alphabet Inc. Communication Services	Added	4,729	+165	$1,611,359	−0.1%	0.20%
EXPE	Expedia Group, Inc. Consumer Cyclical	Held	5,526	0	$1,455,327	+2.9%	0.18%
PWRD		Held	13,540	0	$1,424,326	−14.4%	0.17%
IWF	iShares Russell 1000 Growth ETF	Held	11,193	0	$1,402,035	+0.9%	0.17%
VTV	VANGUARD VALUE INDEX FUND	Added	5,991	+7	$1,294,535	−0.7%	0.16%
META	Meta Platforms, Inc. Communication Services	Held	1,750	0	$1,269,065	+28.7%	0.15%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	8,469	-114	$1,230,376	−2.2%	0.15%
MA	Mastercard Inc Financial Services	Reduced	2,200	-353	$1,213,234	−7.5%	0.15%
SHOP	Shopify Inc. Technology	Held	7,536	0	$1,117,588	+29.9%	0.14%
COST	Costco Wholesale Corp Consumer Defensive	Held	1,182	0	$1,076,021	−2.7%	0.13%
VB	Vanguard Index Funds	Added	3,746	+36	$1,065,699	−5.2%	0.13%
NUDM	Nuveen ESG International Developed Markets Equity ETF	Held	26,551	0	$1,054,340	−0.8%	0.13%
LLY	ELI LILLY & Co Healthcare	Added	911	+34	$1,054,099	+0.2%	0.13%
WMT	Walmart Inc. Consumer Defensive	Held	10,038	0	$1,043,148	−8.2%	0.13%
DDOG	Datadog, Inc. Technology	Reduced	3,507	-2	$960,391	+5.1%	0.12%

Showing the top 50 of 1,045 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.